Canada and China have extended a bilateral trade arrangement that links Chinese market access for Canadian agricultural products with Canada's access for Chinese steel and aluminum. The decision provides greater certainty for exporters on both sides as Ottawa seeks to expand its trade relationships beyond the United States. The extension, announced on November 4, 2026, will keep the existing arrangement in place until the end of 2028. It comes amid renewed efforts by the two countries to strengthen economic ties and address outstanding trade issues. For the aluminum industry, the agreement offers a clearer timeline for market access, while its agricultural provisions provide Canadian producers with greater predictability in one of their key export markets. Canada-China trade agreement...
LME aluminium prices gained ground on November 4, with cash and futures contracts moving higher. The Asian Reference Price also edged up, while exchange inventories declined. Alumina Platts prices, however, moved slightly lower. The cash bid rose by USD 53.50 per tonne , or 1.74 per cent, to USD 3,134.50 per tonne from USD 3,081 per tonne. The cash offer increased 1.72 per cent to USD 3,135 per tonne from USD 3,082 per tonne. Three-month aluminium prices also advanced. The bid climbed 1.08 per cent to USD 3,073 per tonne on November 4 from USD 3,040 per tonne, while the offer gained 1.05 per cent to USD 3,074 per tonne. It was previously at USD 3,042 per tonne . Explore the production, demand and consumption forecasts of bauxite and alumina in our report: " Global Bauxite & Alumina Market...
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The US Treasury Secretary Steven Mnuchin urged President Donald Trump to exempt Canada from additional 25 per cent tariffs on imported steel and 10 per cent on imported aluminium, on Tuesday, June 5, 2018, in a trade meeting at White House. This news came from senior administration officials and two sources close to the White House. According to the sources, Mnuchin made a request to Donald Trump to exempt Canada from the recently imposed additional tariffs, after returning from the G-7 finance minister’s summit in Canada. He raised the point that the United States has a US$ 2 billion steel surplus with Canada and nearly US$ 26 billion services surplus. The trade meeting on June 5 was attended by National Economic Council Larry Kudlow, Commerce Secretary Wilbur Ross, Trade Advisor Peter...
After starting the week on a high with the consolidation of the US dollar LME aluminium closed slightly lower at US$ 2314.50 per tonne on June 5 from US$ 2324.50 per tonne on June 4. LME aluminium hovered around the US$2,320 per tonne level overnight after hitting a high of US$2,340 per tonne. Shanghai Metals Market expects the contract to trade rangebound at US$2,300-2,340 per tonne today. As on June 5, LME aluminium cash (bid) price stands at US$ 2314 per tonne, LME official settlement price stands at US$ 2314.50 per tonne; 3-months bid price stands at US$ 2315 per tonne, 3-months offer price is US$ 2315.50 per tonne; Dec 19 bid price stands at US$ 2297 per tonne, and Dec 19 offer price stands at US$ 2302 per tonne. The LME aluminium opening stock slightly dropped to 1192100 tonnes....
The national aluminium associations’ leaders from Canada, the United States, Europe and Japan have called for the creation of a Global Multilateral and Governmental Forum on Aluminium Overcapacity based on a robust international monitoring system. The national aluminium associations' leaders have urged the G7 leaders to formally request the G20 to create Global Aluminium Forum and an international monitoring system. The event took place, with the active participation of the Canadian and Quebec governments, representatives of G7 governments and of the industry leading companies from Canada, USA, Europe and Japan on June 3rd and 4th in Montreal. "The creation of a global forum will help us to address illegally subsidized Chinese overcapacity, which is challenging aluminium companies across...
The average A00 aluminium ingot price surged on Wednesday, June 6, 2018, to close at RMB 14640 per tonne after a fall on the previous day from RMB 14550 per tonne to RMB 14520 per tonne, according to Shanghai Metal Market (SMM). The prices are expected to range within RMB 14620 per tonne to RMB 14660 per tonne, with spot discounts remaining same at RMB 70 per tonne to RMB 30 per tonne. Tight supply in the Chinese market due to fewer deliveries to warehouses could be a reason for the price surge. Shanghai Metal Exchange (SME) also registered a price rise from US$ 2266 per tonne to US$ 2289 per tonne on June 6. Besides, the aluminium price across the globe had been on the upswing since long. While the east saw a significant price growth of aluminium ingot from RMB 14530 per tonne to RMB...
Russian aluminium giant Rusal increased its aluminium sales by up almost threefold in May. According to news reported by Interfax news agency and published by Reuters, the company exported 197,000 tonnes of aluminium last month. Citing Russian Railways data, Interfax said aluminium exports declined 16 per cent year on year to 972,000 tonnes in the first five months of 2018. Last month, Rusal restarted the shipment soon after the United States extended the sanctions deadline further from June 5 to October 23, 2018, for companies to wind down contracts with the Russian firm under US sanctions, sources said. When the United States declared sanctions against Rusal on April 6, many of its customers intimidated not to ship aluminium until their legal and compliance teams confirmed the contracts...
Following the European Union, Mexico announced on Monday, June 4, 2018, that it would file a complaint with the World Trade Organisation (WTO) over the US additional tariffs on imported aluminium and steel. The economy ministry said in this regard, “it will initiate a dispute settlement process under the umbrella" of the WTO, and that its actions will continue to follow the state of international commercial law and will be proportional to the damage that Mexico regrettably received." The European Union and Mexico have already opened legal challenges to the United States at the WTO. Mexico, following their path, submitted a request for consultations with the US over the additional tariffs. It argued that the tariffs imposed on the grounds of national security were not relevant to the WTO...
LME aluminium started the week on a high with the consolidation of the US dollar and closed at US$ 2324.50 per tonne. The contract came off a high overnight after it rose to a high of US$2,343 per tonne as the US dollar rebounded. As its trading level expands upwards, Shanghai Metals Market expects it to continue to rise today with a trading range at US$2,300-2,340 per tonne. As on June 4, LME aluminium cash (bid) price stands at US$ 2324 per tonne, LME official settlement price stands at US$ 2324.50 per tonne; 3-months bid price stands at US$ 2319 per tonne, 3-months offer price is US$ 2321 per tonne; Dec 19 bid price stands at US$ 2285 per tonne, and Dec 19 offer price stands at US$ 2290 per tonne. Currently, LME cash price is again settling higher than the 3 months LME aluminium....
According to Shanghai Metal Market, the average A00 aluminium ingot price plunged on June 5, 2018, from RMB 14550 per tonne to RMB 14520 per tonne. The prices are expected to range within RMB 14500 per tonne to RMB 14540 per tonne, with spot discounts remaining same at RMB 70 per tonne to RMB 30 per tonne, as that of the previous day. On Monday, June 4, 2018, the average A00 aluminium ingot price had surged to RMB 14alumi550 per tonne on the back of fewer deliveries to warehouses, after a fall on the prior day, June 1, 2018, from RMB 14610 per tonne to RMB 14490 per tonne. To say the truth, aluminium ingot price, according to SMM, has been oscillating since the beginning of May and likely to continue. Almost all the major Chinese markets witnessed dwindle in aluminium ingot prices today,...
After a fall on 1st of June, 2018, from RMB 14610 per tonne to RMB 14490 per tonne, the Shanghai Metal Market observed a surge in average A00 aluminium ingot price, reaching up to RMB 14550 per tonne on June 4, 2018. This indicates that the price today, on June 4, grew higher than June 1 but stood lower than 31 st of May, 2018. The prices are expected to range within RMB 14530 per tonne to RMB 14570 per tonne, with spot discounts to settle at RMB 70 to 30 per tonne. Almost all the major Chinese markets witnessed a surge in aluminium ingot price on June 4, 2018. The East market saw a price growth from RMB 14510 per tonne to RMB 14540 per tonne, South and North witnessed a price rise from RMB 14560 per tonne to RMB 14635 per tonne and from RMB 14520 per tonne to RMB 14550 per tonne...
The LME aluminium contract closed at US$2271 per tonne on June1 from US$2265.5 per tonne on previous closing, mostly driven by a strong dollar. LME aluminium regained some losses last Friday night with support from several moving averages. Shanghai Metals Market expects it to try to stand firmly above the US$2,300 per tonne level today with a trading range of US$2,280-2,315 per tonne. As on June 1, LME aluminium cash (bid) price stands at US$ 2270 per tonne, LME official settlement price stands at US$ 2271 per tonne; 3-months bid price stands at US$ 2270 per tonne, 3-months offer price is US$ 2271 per tonne; Dec 19 bid price stands at US$ 2245 per tonne, and Dec 19 offer price stands at US$ 2250 per tonne. Currently, 3 months LME aluminium and LME cash price settle in the same range with...
The global demand for aluminium picked up in the first three months of 2018. RUSAL estimated that global aluminium demand increased by 6% in 2017 to 64 million tonnes amid coordinated economic growth in major regions of the world, while robust demand growth left the global aluminium market in a deficit of around 1 million tonnes. Global primary aluminium production came in at 15.7 million tonnes in the first quarter of this year, according to World Aluminium Institute. A global disruption in aluminium supplies and trade issues had raised the prices of aluminium in April, and hence higher profits for the company. Series of events like the United States’ tariffs on imported aluminium and steel, followed by the sanctions on Russian aluminium giant Rusal blew a storm to create price upheaval....
US Commerce Secretary Wilbur Ross in a telephone briefing on Thursday announced that import tariffs of 25 per cent on steel and 10 per cent on aluminium will be imposed on Canada and Mexico and European Union from Friday. The announcement ended months of uncertainty about potential exemptions and indicated stern attitude of the Trump administration and more complications on the trade negotiation processes with these countries. Shares of industrial heavyweights who are major consumers of these metals started falling on the news. “We look forward to continued negotiations, both with Canada and Mexico on the one hand, and with the European Commission on the other hand, because there are other issues that we also need to get resolved,” Ross said to media. Canada and Mexico retaliated against...
Rio Tinto has completed the sale of its 75 per cent interest in the Winchester South coal development project in Queensland, Australia, to Whitehaven Coal Limited. Total consideration of $200 million is comprised of $150 million in cash received today and an unconditional cash payment of $50 million due in 12 months. The sale of Rio Tinto’s interests in the Kestrel and Hail Creek coal mines and Valeria coal development project are expected to complete during the second half of 2018. Mining giant Rio Tinto announced their agreement to sell its 75% interest in the Winchester South coal development project in Queensland to Whitehaven Coal for $200 million in March 2018.
Currently, Mexico is hitting the headlines due to the US tariffs on imported aluminium and steel and NAFTA negotiations. The country hit back fast on U.S. tariffs on steel and aluminium on Thursday, targeting products from congressional districts. The tit-for-tat measures would complicate the NAFTA renegotiations that underpin trade between the neighbours. While the USA is holding on to its 10 per cent import tariff on aluminium from all countries, every aluminium exporter to the US is fighting for exemptions from the tariff. When we look at our trade data, we can see that, Mexico exported a total of about 26,142 tonnes of aluminium and about 11,864 tonnes to the US in 2016. The amount dropped to a meagre 8833 tonnes in 2017 with about 232 tonnes exported to the US mostly due to the...
Century Aluminum Sebree LLC, a wholly-owned subsidiary of Century Aluminum Company, announced today that it was forced to temporarily stop production on one of its three potlines due to an electrical failure at the Sebree aluminum smelter. No injuries were sustained in connection with these events and the facility's other two potlines were unaffected. Century is continuing to assess the effects of these events but expects to restore the affected potline to full production within the next three months. Century anticipates that less than 18,000 tonnes of production will be lost as a result. Century expects that losses arising from these events, less applicable deductibles, will be covered under its insurance policies.
The US dollar index weakened but remained at high levels around 94 with support from robust US data on employment and the PCE price index. The LME aluminium contract recovered from the 40-day moving average and closed at US$2285.50 per tonne on May 31 from US$2265.5 per tonne on previous closing. LME aluminium climbed all the way up to a high of US$2,304 per tonne last night with the weakening US dollar. It is likely to test the pressure today and trade at US$2,285-2,310 per tonne. As on May 31, LME aluminium cash (bid) price stands at US$ 2285 per tonne, LME official settlement price stands at US$ 2285.50 per tonne; 3-months bid price stands at US$ 2285 per tonne, 3-months offer price is US$ 2286 per tonne; Dec 19 bid price stands at US$ 2260 per tonne, and Dec 19 offer price stands at...
Pacific Aluminium (New Zealand) Limited (PacAl NZ) reported its financial results relating to its interest in New Zealand’s Aluminium Smelter (NZAS). NZAS registered a profit of $75 million in 2017, up from $25 million a year earlier. Consistently higher aluminium prices delivered the more favourable result for the smelter’s owners. Gretta Stephens, NZAS Chief Executive and General Manager, said: “This is a pleasing result and has given NZAS the ability to look more confidently to a commercially sustainable future.” “But predictions are for aluminium market conditions in 2018 to be volatile and NZAS remains vulnerable to that market volatility as well as movements in the New Zealand dollar against the US dollar. This is because we continue to pay one of the highest prices for delivered...
According to an update by Shanghai Metal Market on May 31, 2018, Weiqiao Group in China again reduced its purchasing price for pre-baked anode by RMB 190 per tonne for the month of June. This marked a decline for six consecutive months. Earlier, in May, the price was lowered by RMB 300 per tonne to RMB 3390 per tonne in cash and RMB 3425 per tonne on acceptance. But since many producers did not accept the reduction, arguing that pre-baked anode industry was in a loss, it called for further negotiations. The adjustment brought the prices to stand at RMB 3200 per tonne in cash and RMB 3235 per tonne on acceptance. As a result, according to SMM, the average spot price of pre-baked anode dwindled from RMB 3425 per tonne to RMB 3235 per tonne on June 1, 2018, same as that of the adjusted...
